Hong Kong Launches Pilot Program for Digital Yuan Payments in Local Shops

May 17, 2024, 10:45 AM

Hong Kong has launched a pilot program enabling digital yuan payments through major Chinese banks, marking the first deployment of China's digital currency beyond mainland China. This initiative includes the introduction of personal e-CNY wallets for local users, allowing the digital yuan to be used in local shops. The move, announced by the head of Hong Kong's de facto central bank, is part of Beijing's broader push to digitize its economy.